Anavex Life Sciences Corp (AVXL)

[ALP7]

While I agree with your opinion that he isn't slow playing the release of the data, there is an actual financial benefit to do it.

He has options that will soon expire if he doesn't exercise them. Cost of those options is $1.68. If the stock is at $11.68 when he exercises the options, he has to pay tax on the $10 profit at ordinary income tax levels. If the stock is at $8.68 he only has to pay tax on a $7 profit.

The reason I agree with you is that he has so many options that the small (comparatively) increase in current taxes would be dwarfed by the future profit resulting from FDA approval.